China Stocks Movers: China Shenhua, Jiangxi Copper, ICBC
Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of the close.
The Shanghai Composite Index (SHCOMP), which tracks the bigger of China’s stock exchanges, dropped 1.4 percent to 2,260.88, the lowest close since March 29. The CSI 300 Index (SHSZ300) fell 1.6 percent to 2,512.19, the lowest close for the gauge since April 9. Financial markets are closed tomorrow for a holiday.
Commodities: Jiangxi Copper Co. (600362) (600362 CH), China’s biggest copper producer, fell 3 percent to 24.48 yuan, the most since June 4. China Shenhua Energy Co. (601088) (601088 CH), the country’s largest coal producer, slid 2.3 percent to 23.38 yuan, the lowest close since Jan. 28, 2011. The stocks declined on concern that demand for commodities will slow.
Industrial & Commercial Bank of China Ltd. (601398 CH) dropped 0.8 percent to 3.91 yuan, the lowest close since Sept. 20, 2010. The bank paced a retreat for lenders after the 21st Century Business Herald said the four biggest banks saw net deposits decline by a combined 460 billion yuan ($72 billion) in the first two weeks of this month.
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